Investing.com - Software company Ping Identity Holding (NASDAQ:PING) rose 25% above its IPO price in midday trading Thursday.
Shares of Ping traded at $19.09 per share as of 11:51 AM ET (15:51 GMT).
The rise in shares gives the company a market capitalization of about $1.5 billion.
The IPO was priced at $15 per share on Wednesday, which was in the middle of the expected range of $14 to $16 per share. The company sold 12.5 million shares, raising $187.5 million.